German Discounters Hit U.K. Milestone With 10% Grocery Share
- Asda's sales slump as Wal-Mart unit commits to more price cuts
- Leader Tesco cedes more shoppers as sales drop accelerates
A Lidl store in Catford, U.K.
Photographer: Simon Dawson/BloombergThis article is for subscribers only.
German discounters Aldi and Lidl attained a landmark in their invasion of the U.K. grocery market, reaching a combined 10 percent share as sales slump at supermarkets including Wal-Mart Stores Inc.’s Asda.
Data from researcher Kantar Worldpanel showed that the budget chains have doubled their share in little more than three years, with Lidl making particularly strong progress in recent weeks. Asda’s third-quarter same-store revenue fell 4.5 percent, the company said Tuesday, committing to additional price cuts in an effort to regain shoppers from the discounters.